NSFAS probe | SIU recoups millions during investigations

JOHANNESBURG - The Special Investigating Unit has so far recouped over R737-million in its NSFAS investigation.

According to the SIU, the amount includes R688.2-million in unallocated funds.

The unit presented its finding to parliament's standing committee on Public Accounts.

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The unit also signed an acknowledgment of debt agreements of R49.7-million with Motheo Technical Vocational Education and Training College in the Free State.

The SIU says the unallocated funds are due to poor control systems and a lack of reconciliation processes by NSFAS.

It also found that the voucher payment system had many dormant accounts that were active.